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Sharing the Illumination |
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After three years of
political impasse, the Revolutionary
Democrats are now asserting themselves in the Addis
Abeba City Administration, after an election that
was shunned by the elite and the youth in the
capital. Over 1.24 million residents were registered
for the April 2008 local and by-elections and 70.4pc
cast their votes, according to Merga Bekana (Prof.),
chairman of the National Electoral Board.
With hardly any
challenge, the ruling EPRDF won 137 of the 138 seats
in the City Council; 109 are councilmen and 29 are
women, including one from Ayele Chamisso's CUD. They
all assembled at the City Hall on Tuesday, May 20,
2008, for the Caretaker Administration that was in
office for two years to hand over the administration
of the city to the new Mayor, Speaker, and Cabinet
Members. A few hours before the handover of the
city's key, Hilawie Yoseph, point man of the EPRDF
in Addis Abeba, was setting light to the waxed
sticks held by both Brehane Deressa, the 28th mayor,
and his successor, Kuma Demeksa.
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Central Bank to Order Notes Print
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The National Bank of Ethiopia (NBE) is reviewing
offers from at least five international companies
involved in the printing of currency notes.
An international tender was opened on May 10, 2008,
to which six companies have bought tender documents;
five have responded expressing their desire to print
all the denominations of the Birr at an estimated
cost of nearly 70 million dollars, disclosed
sources. |
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Oil
Price Widens Ethiopia’s Balance of Trade Gap |
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Ethiopia’s import bill will shoot up by one billion
dollars annually, claiming over a fifth of the
Federal government budget, due to the soaring prices
of oil in the global market, the International
Monetary Fund (IMF) has projected. |
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Second Dam for Lake Tana |
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The Ministry of Water Resources (MoWR) is to
commence the construction of the second of the five
dams it intends to construct in the surroundings of
Lake Tana, in Bahir Dar town of the Amhara Regional
State, 563Km north of Addis Abeba. Named Megech,
this dam is projected to cost 1.3 billion Br. |
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Supreme Court Orders Dissolving of Getu-Yan
Plc |
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The Federal Supreme Court passed a ruling to
dissolve Get-Yan Plc, a joint venture company owned
by Ethiopian businessmen and a Chinese national, on
May 8, 2008 overturning a ruling passed by Judge
Tafesse Yirga of the Federal High Court. |
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Gov't to Spend $59m to Import Wheat from SA |
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The crisis of soaring grain prices on the local
market has caused Prime Minister Meles Zenawi's
administration to resort to a response that he had,
only two months ago, rejected as not "affordable and
sustainable". Authorities at the federal government
have begun processing an..... |
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Upgrading of Jimma Airport Proposed |
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The Ethiopian Airports Enterprise (EAE) submitted a
56 million Br budget request to the Ministry of
Finance and Economic Development (MoFED) for the
upgrading of the Jimma Airport to an international
standard. The state owned Transport Construction
Design S.C (TCD) is working on the design of the
airport, a.k.a. Aba Segud Airport. |
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Sunshine Real Estate Transfers Houses to
Buyers |
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Sunshine Real Estate, a subsidiary company of
Sunshine Construction, has transferred 166 luxury
homes to buyers yesterday, May 24. The transfer
included 151 ground- plus-one villas located
opposite CMC, and the rest are around Gerji. |
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Local Contractors Awarded Road Construction
Projects |
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The Ethiopian Roads Authority (ERA) awarded the last
six road construction projects of the budget year to
four local contractors. Stretching over 436Kms, the
road construction projects are expected to cost the
government 2.76 billion Br. |
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New City Administration to Raffle Condos |
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The newly installed Addis Abeba City Administration
is to raffle 13,000 condominium houses to the
residents of the metropolis in June 2008. All the
condos are part of the constructions launched during
the provisional administration in 2005/2006; 5,000
are part of the 15,000 houses raffled five months
ago but were not transferred for various reasons
while 8,000 are newly completed condos.
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Privatization Agency to Net Targeted Billion Br Mark |
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The Privatization and Public Enterprise Supervising
Agency (PPESA) appears likely to meet the 1.1
Billion Br mark it has targeted this fiscal year
judging from the 898 million Br profit before tax it
collected in the first nine months. |
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Businessmen Raising Equity to Institute Tannery |
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A group of veteran leather experts are raising
equity to establish ‘Crystal Tannery’ in what is
considered the first of its kind in the sector. The
five Ethiopians and two Italian promoters of
Ethiopian origin envision raising 100 million Br. |
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New Administration Begins Restructuring
Exercise |
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The Kuma Demeksa led City Administration has begun
restructuring various Agencies in Addis Abeba.
Offices that are undergoing restructuring include
the city’s Trade and Industry Development Bureau,
Information and Culture Bureau, Justice and Legal
Affairs Bureau and the office of the
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City Officials, Residents to Discuss City’s
Woes |
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Prior to its loss of all but one seat of the City
Council to the Coalition for Unity and Democracy
(CUD) in the May 2005 elections, EPRDF had been
doing a lot, during its Provisional Administration
under Arkebe Oqubay, to address major problems of
the city, the Revolutionary Democrats say. |
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Public Voice on New Steering Administration |
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